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bernanke will stay on if barack obama is reelected. on the right-hand side we see potential romney cabinet selections, glenn hubbard, he's been an economic adviser to both romney's presidential campaigns, last time and again this time, and john taylor at stanford university is also somebody who is mentioned frequently. look at state department as well that's obviously one that is a moving part right now because this interesting tension in washington on the obama side if he's reelected between john kerry who might have done himself some good with his speech at the democratic national convention, and susan rice is somebody who is often mentioned. now, this recent flap over libya and what the united states said or did not say about the situation there might have damaged her prospects a little bit. we'll have to watch that one, on the romney side robert zoellick, former world bank president and richard haass, president of the council of foreign relations mention there had and treasury secretary we talked about some of the names for the oba
bernanke will stay on if barack obama is reelected. on the right-hand side we see potential romney cabinet selections, glenn hubbard, he's been an economic adviser to both romney's presidential campaigns, last time and again this time, and john taylor at stanford university is also somebody who is mentioned frequently. look at state department as well that's obviously one that is a moving part right now because this interesting tension in washington on the obama side if he's reelected between...
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Sep 27, 2012
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because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis and the autonomous region, some of which including catalonia are looking trying to get some form of assembly. it is a toxic mix. >> imagine that there will be pressure on markets as this they think unfolds. we're also counting down to the wire here of cour
because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it...
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>> i think that obama with apple could they sell five million and not be disappointing. only with apple could you read that everybody didn't have enough iphones and yet we decided that the iphone is not popular. this is kind of the culture of stock run up, stock come back apple that has been with us ever since it started the move and people abandon apple every time there is a negative headline. >> there is an article today in the "new york times" with apple, will they be the first to break 1 million? >> i think the quarter is going to be better than expected. people aren't focused on that right now. they are focused on the line. i don't want a club that wants me. in the end, apple can stall out and still do well. that's always been something that people can't figure out. how could a stock stall out and go down and still be good? and that's apple. >> jim, we've got to run but what would be the turning point if there was one? people are starting to talk this way. >> what would make it feel like that this is no good anymore would be a sudden surge in samsung phones because
>> i think that obama with apple could they sell five million and not be disappointing. only with apple could you read that everybody didn't have enough iphones and yet we decided that the iphone is not popular. this is kind of the culture of stock run up, stock come back apple that has been with us ever since it started the move and people abandon apple every time there is a negative headline. >> there is an article today in the "new york times" with apple, will they be...
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actually started the whole deal for barack obama back in 2008. >> wow. can i talk about corn? >> yes. >> thank you. go ahead. >> all right. the new report out this morning corn is already jumping on the markets because it was bullish on corn and some traders had been expecting bearish news. they've been selling off corn this week but the usda says stocks as of the beginning of september for the year are 98 # bushels. that is under a billion bushels, very low. 988 bushels. the street was expecting slightly more than 1.1 billion. that is a 12% drop from stocks a year ago with most of it from grain facilities not from the farms. corn supplies on the farm are only down slightly. perhaps as farmers are holding on to corn to meet contract commitments. soybeans, the market is mixed. it was a bearish report with ending stocks a little higher than expected at 169 million bushels. still, a 21% drop in a year. bullish wheat with stocks as of the beginning of september at a little over 2 billion bushels. only down slightly from a year ago but less than the street expected. we'll have to s
actually started the whole deal for barack obama back in 2008. >> wow. can i talk about corn? >> yes. >> thank you. go ahead. >> all right. the new report out this morning corn is already jumping on the markets because it was bullish on corn and some traders had been expecting bearish news. they've been selling off corn this week but the usda says stocks as of the beginning of september for the year are 98 # bushels. that is under a billion bushels, very low. 988...